Hexavest Inc. reduced its stake in Shaw Communications Inc (NYSE:SJR) (TSE:SJR.B) by 34.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 520,417 shares of the company’s stock after selling 278,966 shares during the quarter. Hexavest Inc. owned about 0.11% of Shaw Communications worth $11,916,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently made changes to their positions in SJR. JPMorgan Chase & Co. raised its stake in Shaw Communications by 10.2% in the second quarter. JPMorgan Chase & Co. now owns 1,177,857 shares of the company’s stock valued at $25,664,000 after purchasing an additional 108,960 shares in the last quarter. Alliancebernstein L.P. raised its stake in Shaw Communications by 31.8% in the second quarter. Alliancebernstein L.P. now owns 60,578 shares of the company’s stock valued at $1,320,000 after purchasing an additional 14,604 shares in the last quarter. Ameriprise Financial Inc. purchased a new stake in Shaw Communications in the second quarter valued at approximately $252,000. Bridgewater Associates LP purchased a new stake in Shaw Communications in the second quarter valued at approximately $1,676,000. Finally, Northern Trust Corp raised its stake in Shaw Communications by 0.4% in the second quarter. Northern Trust Corp now owns 423,151 shares of the company’s stock valued at $9,221,000 after purchasing an additional 1,884 shares in the last quarter. 52.44% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently weighed in on SJR shares. Barclays raised their target price on shares of Shaw Communications from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Friday, October 27th. Zacks Investment Research raised shares of Shaw Communications from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research note on Monday, October 2nd. Bank of America reaffirmed a “neutral” rating and issued a $32.00 target price on shares of Shaw Communications in a research note on Tuesday, December 5th. Scotiabank downgraded shares of Shaw Communications from an “outperform” rating to a “sector perform” rating in a research note on Thursday, October 12th. Finally, TheStreet raised shares of Shaw Communications from a “c” rating to a “b-” rating in a research note on Monday, October 30th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $27.00.
Shaw Communications Inc (NYSE SJR) opened at $21.78 on Friday. The company has a market cap of $10,970.00, a P/E ratio of 23.17, a price-to-earnings-growth ratio of 4.24 and a beta of 0.96. Shaw Communications Inc has a one year low of $20.13 and a one year high of $23.44. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.80.
Shaw Communications (NYSE:SJR) (TSE:SJR.B) last posted its quarterly earnings results on Thursday, January 11th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.06). The business had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Shaw Communications had a return on equity of 10.19% and a net margin of 17.34%. The company’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business posted $0.18 earnings per share. sell-side analysts predict that Shaw Communications Inc will post 1.02 EPS for the current fiscal year.
The firm also recently declared a jan 18 dividend, which will be paid on Wednesday, March 28th. Shareholders of record on Thursday, March 15th will be paid a dividend of $0.0988 per share. Shaw Communications’s dividend payout ratio (DPR) is presently 100.00%.
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Shaw Communications Company Profile
Shaw Communications Inc (Shaw) is a diversified connectivity provider. The Company operates through four divisions: Consumer, Wireless, Business Network Services and Business Infrastructure Services. Under the Consumer division, the Company offers Cable telecommunications and Satellite video services to residential customers.
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